IPO of Bansal Wire Industries.

IPO of Bansal Wire Industries.

Unlisted shares of Bansal Wire Industries Ltd are trading as high as Rs 76 in the gray market, expecting a listing gain of 29.69 per cent from the public issue.

The Bansal Wire Industries IPO, which was open for public subscription between July 3 and July 5, fetched 62.76 times subscription on the last day of bidding on Friday. Now, its allotment of shares will be finalized today, July 8. After Bansal Wire Industries’ IPO is allotted, investors will receive bank debit messages today, July 8, probably in the evening. Investors can check the allotment status of their IPO on the websites of BSE and NSE as well as on the portal of registrar Kafan Technologies.

The Rs 745-crore Bansal Wire Industries IPO attracted a bid of 1,27,85,22,420 shares against 20,371,094 shares on offer on the last day of bidding.

Shares of Bansal Wire Industries Limited are likely to be listed on BSE and NSE on Wednesday, July 10.

Bansal Wire Industries IPO: How to Check Allotment Status

After finalizing the IPO allotment, the status can be checked by following these steps:

1) Visit BSE official website via URL —https://www.bseindia.com/investors/appli_check.aspx.

2) Under ‘Issue Type’, select ‘Equity’.

3) Under ‘Issue Name’, select ‘Bansal Wire Industries Ltd’ in the drop box.

4) Enter your Application Number, or Permanent Account Number (PAN).

5) Then, click on ‘I am not a robot’ to confirm yourself and press ‘Search’ option.

The status of your share request will be displayed on your screen.

You can also go directly to the Kfin Technologies portal. https://rti.kfintech.com/iposatus/ And Check Bansal Wire Industries IPO Allotment Status

Bansal Wire Industries’ IPOGMP today

According to market observers, the unlisted shares of Bansal Wire Industries Ltd are trading Rs 76 higher than their issue price in the gray market. A gray market premium or GMP of Rs 76 means that the gray market is expecting a listing increase of 29.69 percent from the public issue. GMP is based on market sentiment and changes.

The GMP of Rs 76 is higher than the GMP of Rs 75 on the last day of bidding on Friday.

The ‘grey market premium’ indicates the willingness of investors to pay more than the issue price.

Bansal Wire Industries IPO: More Details

Bansal Wire Industries’ IPO is an entirely fresh issue of equity shares worth Rs 745 crore, with no offer for sale (OFS) portion.

The quota of non-institutional investors was subscribed 54.21 times, while the portion of retail individual investors (RIIs) was subscribed 14.37 times. The Qualified Institutional Buyers (QIB) category has received 153.86 times subscription so far.

The price band of the IPO was fixed at Rs 243 to Rs 256 per share. A day ahead of its IPO, Bansal Wire Industries raised Rs 223 crore from anchor investors on Tuesday.

The funds will be used to repay debt, meet the working capital requirements of the company and for general corporate purposes.

Bansal Wire Industries is engaged in the business of manufacturing and exporting steel wires. It works in three broad categories high carbon steel wire, mild steel wire (low carbon steel wire) and stainless steel wire.

In addition, the company plans to add a new segment of specialty wires through its upcoming plant in Dadri, which will help it expand and expand its market presence in the coming financial year.

The company’s total revenue grew to Rs 2,422.56 crore at a CAGR of 28 per cent in FY23 from Rs 1,480.41 crore in FY21, and profit after tax (PAT) grew at a compound annual growth rate (CAGR) of 21.7 per cent. 59.93 to Rs. 40.46 crore in FY21 to crore in FY23.

Half of the issue size is allocated to qualified institutional investors (QIBs), 35 per cent to retail investors, and the remaining 15 per cent to non-institutional investors.

SBI Capital Markets and DAM Capital Advisors are the book-running lead managers for the issue.

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